New York-based Checkpoint Therapeutics Inc. is looking to raise $20 million via the sale of 4.6 million shares at $4.35 apiece.
The Fortress Biotech Inc. majority-controlled subsidiary intends to use the funds to continue developing its product pipeline, which includes treatments for cancer.
National Securities Corp. is acting as sole book-running manager for the offering, which is expected to close March 12. H.C. Wainwright & Co is acting as lead manager while Lake Street Capital Markets LLC is acting as a qualified independent underwriter.
The biotechnology company is offering the underwriters a 45-day option to purchase an additional 690,000 shares.
